When transitioning to Open Banking, one of the key considerations for banks is their operating model and governance structure. If banks do not adapt to new ways of working, they may risk losing market share to savvy new digital entrants. In our experience working with banks across the globe, we found that focusing on the…
In his report on the top 10 banking trends for 2020, our global banking lead, Alan McIntyre, made a telling observation: that the focus of Open Banking has shifted from payments initiation services to consumers’ data rights. The impact? Today, banks don’t just need to show that they can be trusted with aggregated customer information.…
The finance ecosystem—clients and employees, shareholders and stakeholders—is striving for purpose and sustainability. Environmental, social and governance (ESG) considerations are at the forefront of financial decisions, supported by the Sustainable Development Goals (SDGs) and increased awareness of the climate emergency. Sustainable finance is sometimes referred to as green finance, but it’s not just about reducing…
As I mentioned in my last post, the journey to Open Banking has been long and full of challenges for most banks in Europe. One of the main reasons it took so long to define the Regulatory Technical Standards (RTS) is the challenge around technology and the development of the necessary application programming interfaces (APIs)…
It would be an understatement to say that our typical ways of working have been pushed to the limit by recent events. More than ever, agility and co-creation have been essential to solve the evolving challenges organisations the world over now face—adjusting at speed to the changing needs of their people, customers and suppliers. Countless…
If I look at the last 10 weeks, while there has certainly been a lot of admirable hustling and improvisation in the banking industry, my conversations with executives have also been characterised by a lot of regret. Regret that they didn’t move quicker with their transformation efforts when they had both the time and the…
